Cullen Frost Bankers Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,198 shares of the oil and gas company’s stock after purchasing an additional 2,009 shares during the period. Cullen Frost Bankers Inc.’s holdings in Phillips 66 were worth $1,804,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allred Capital Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter worth $27,000. Lighthouse Financial Advisors Inc. bought a new stake in shares of Phillips 66 in the fourth quarter worth $30,000. Savior LLC bought a new stake in shares of Phillips 66 in the fourth quarter worth $32,000. JFS Wealth Advisors LLC increased its stake in shares of Phillips 66 by 56.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Finally, Rational Advisors LLC increased its stake in shares of Phillips 66 by 41.1% in the third quarter. Rational Advisors LLC now owns 374 shares of the oil and gas company’s stock worth $38,000 after buying an additional 109 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.
A number of brokerages recently issued reports on PSX. ValuEngine upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 8th. Citigroup dropped their price target on shares of Phillips 66 from $135.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Cowen dropped their price target on shares of Phillips 66 from $127.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada restated a “hold” rating and issued a $106.00 price target on shares of Phillips 66 in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price target on shares of Phillips 66 from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $119.25.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $29.61 billion during the quarter, compared to the consensus estimate of $27.30 billion. Phillips 66 had a net margin of 2.81% and a return on equity of 13.52%. During the same quarter in the previous year, the company posted $4.87 earnings per share. Equities research analysts anticipate that Phillips 66 will post 9.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, February 14th. Phillips 66’s dividend payout ratio is presently 44.72%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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